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Invesco Mortgage Capital Q4 Earnings Preview
Posted February 21, 2012
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Invesco Mortgage Capital (NYSE:IVR) is a real estate investment trust engaged in acquiring, financing, and managing residential and commercial mortgage-backed securities and mortgage loans. Thursday, February 23, 2012, the company will report its fourth quarter earnings.
Expectations: Analysts are projecting the company to come in with earnings of 68 cents per share, down 29.9% from a year ago, when it reported earnings of 97 cents per share. The consensus estimate has fallen over the past three months, down from 82 cents. Analysts are projecting earnings of $3.39 per share for the fiscal year. The company's revenue is expected to beat the year-earlier total of $55.7 million by 58.3% to finish at $88.2 million for the quarter. Revenue for the fiscal year is expected to be $305.9 million.
Performance: The company has seen double-digit year-over-year revenue growth for the past four quarters. Over that period, revenue has grown by an average of more than threefold. The biggest boost came in the first quarter when revenue increased more than threefold year-over-year. The company's profit has been on the rise for three quarters in a row. The more than threefold year-over-year growth in net income in the most recent quarter came after the more than threefold profit growth in the second quarter and the more than fourfold rise in the first quarter. The stock price has increased from $14.34 on November 22, 2011 to $16.18 over the past quarter. Invesco Mortgage Capital's best recent streak was when its price gained $1.81 per share between January 13, 2012 and January 27, 2012.
Ratings: Analysts generally think investors rate Invesco Mortgage Capital a hold, with seven of 11 analysts rating it hold.
Earnings estimates provided by Zacks.
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